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M.S. Real Estate Development

Overview

The Master of Science in Real Estate Development program is a three-semester degree that combines the fundamental skills of professional real estate with a holistic approach to urban development as a creative act. The program is cross-disciplinary, drawing on its proximity to other modes of practice at the school, and is grounded in the three core tenets of global urban real estate development: the financial, the physical, and the social. It attracts future business leaders looking for an alternative to an MBA and committed architects hoping to run their own design/build firm. The program’s strength lies in its ability to weave current knowledge and best practices from the industry together with rigorous theoretical learning, incisive critical analysis, and immersive real-world case studies.

The Real Estate Development program is structured to provide a comprehensive understanding of finance and investment, project management, predevelopment analysis, zoning and planning, acquisition underwriting, and the value of design in real estate practices. In recent years, the program has greatly expanded its emphasis on financial investment and strengthened its relevancy in terms of real estate markets, introducing a new real estate technology sequence to the curriculum and increasing the availability of technology resources for research. The curriculum builds its foundational knowledge incrementally over the three terms: the first semester is dedicated to developing solid, core competencies and the majority of classes are required; the second, grants more space to focus on the development of specific industry interests; and the third consists mostly of deep-dive electives offered across GSAPP, Columbia Business School, Columbia School of International and Public Affairs, and Columbia Law School. The program culminates in a final Capstone project.

The program’s Capstone class begins with initial group work as students learn about five different active real estate case-study sites, and ends with individual Capstone projects. Students must create their own personalized Capstone “deal-book” (with all the relevant financial information, design proposals, and market analysis data), as well as deliver a presentation and defend their project to an audience of peers, alumni, and faculty. 

The Master of Science in Real Estate Development curriculum is bolstered by its proximity to the city and to the real-world opportunities that it offers: Professionals from the real-estate industry in New York City visit campus daily as adjunct professors, alumni mentors, and lunchbox lecture speakers. Approximately a third of individuals in the program complete a part-time spring internship to gain additional work experience in NYC.

Contact

For more information on the program, please email realestate@arch.columbia.edu or call 212-854-0057.

For more information about Career Services, Industry Outreach & Placement, please email Rebecca Andersen Polimeda.

Curriculum

Intensive Summer Semester

The introduction to the program begins with immersion in real estate finance, construction technology, market analytics, and other foundational subjects. Electives are limited to allow students with diverse background experiences to build essential financial, graphic, and analytical competencies.

Expansive Fall Semester

While core skills continue to be developed—particularly in finance, history of development, and real estate law—students are given significant elective opportunities to broaden their theoretical and applied skill sets by concentrating on the unique finance or design course tracks available only at Columbia.

Integrated Spring Semester

With a central focus on capstone projects, complex financial and economic modeling, and public policy, students bring together a cross-disciplinary portfolio of independent and supervised research and coursework, graduating with a holistic professional foundation.

Columbia GSAPP MSRED Program Introduction

Current Faculty

Michael Adelstein

Mitchell Adelstein

Shaishav Agarwal

Nathalia Bernardo

Juan Felipe Herrera Quiroz

James von Klemperer

Robert Wertheimer

Recent News

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Fall 2025 Courses

Course Semester Title Student Work Instructor Syllabus Requirements & Sequence Location & Time Session & Points Call No.
PLAN4312‑1 Fall 2025
Real Estate Finance II: Case Studies
Chris Munsell

MSRED Only

113 Avery
W 6 PM - 8 PM
Full Semester
3 Points
10830
PLAN4326‑1 Fall 2025
Real Estate Excel Modeling Tutorial II
Eric Andersen

MSRED Only

113 Avery
TU 5:30 - 7 PM
Full Semester
0 Points
10831
PLAN4539‑1 Fall 2025
The Development Process: Deal Structuring
Cecily King

MSRED Only

113 Avery
TH 11 AM - 1 PM
Full Semester
3 Points
10832
PLAN6050‑1 Fall 2025
Internship
Rebecca Andersen Polimeda

MSRED Duals only, program approval required

NA
NA
Full Semester
1.5 Points
10854
PLAN6212‑1 Fall 2025
Affordable Housing, Development and Policy
Ed Poteat

MSRED Preference or program approval

209 Fayerweather
TU 3:30 PM - 5:30 PM
Session B
1.5 Points
16040
PLAN6252‑1 Fall 2025
Architect and Developer Dialogues
Raquel Ramati

MSRED Only

Off-Campus Site Visits, As Per Syllabus
M 11 AM - 1 PM
Session A
1.5 Points
10863
PLAN6259‑1 Fall 2025
Capital Markets: REIT Analysis
David Kruth

MSRED Only

113 Avery
W 11 AM - 1 PM
Full Semester
3 Points
10872
PLAN6265‑1 Fall 2025
Underwriting
Chris Munsell

MSRED Only

113 Avery
W 3:30 PM - 5:30 PM
Full Semester
3 Points
13309
PLAN6281‑1 Fall 2025
Hotel Development and Investment Analysis
Adam Feil

MSRED Only

209 Fayerweather
F 9 AM - 11 AM
Session B
1.5 Points
10878
PLAN6377‑1 Fall 2025
Funds Management and Capital Raising
Marc Weidner

MSRED Only

113 Avery
TU 9 AM - 11 AM (10/14, 10/21, 10/28) + TH 2 PM - 4 PM (10/16, 10/23, 10/30)
Session B
1.5 Points
10879
PLAN6392‑1 Fall 2025
The Development Process: Integrative Design
Brian Loughlin

MSRED Only

113 Avery
TH 9 AM - 11 AM
Full Semester
3 Points
16049
PLAN6603‑1 Fall 2025
Lease Analysis & Financial Metrics
Sara Queen

MSRED Only

113 Avery
TU 7 PM - 9 PM
Session A
1.5 Points
10881
PLAN6719‑1 Fall 2025
Building Adaptation and Reuse
Andy Golubitsky, Gabriel Randall

Clinic w/ ARCH4105-17

209 Fayerweather
F 1 PM - 3 PM
Session B
1.5 Points
13916
PLAN6721‑1 Fall 2025
Design by Development: Possibilities of Form
Eran Chen

MSRED Preference or program approval

209 Fayerweather
M 9 AM - 11 AM
Session B
1.5 Points
10882
PLAN6840‑1 Fall 2025
Real Estate Valuation & Investment Analysis
Phil Wharton

MSRED Only

113 Avery
TU 10 AM - 12 PM
Session A
1.5 Points
10883
PLAN6873‑1 Fall 2025
Financial Modeling Case Studies
Chok Lei

MSRED Only

209 Fayerweather
TH 4 PM - 6 PM
Session B
1.5 Points
10884
PLAN6892‑1 Fall 2025
Multifamily Site Analysis and Valuation
Alex Barrett

MSRED Only or instructor approval

209 Fayerweather
TH 4 PM - 6 PM
Session A
1.5 Points
10885
PLAN8792‑1 Fall 2025
Individual Research
Hera H. Suh

MSRED Only

N/A
N/A
Full Semester
1.5 Points
10889
ARCH6965‑1 Fall 2025
Advanced Studio V – Clinic
Imani Jacqueline Brown

ALL GSAPP

700 Avery
TH 1:30 PM - 6:30 PM
Full Semester
3 Points
10602
ARCH4341‑1 Fall 2025
Traditional American Architecture
Andrew Dolkart
209 Fayerweather
TU 11 AM - 1 PM
Full Semester
3 Points
10737
ARCH4385‑1 Fall 2025
Arab Modernism(s): Experiments in Housing, 1945-present
Yasser Elsheshtawy
200 Buell North
TH 11 AM - 1 PM
Full Semester
3 Points
19935
ARCH4388‑1 Fall 2025
(Re) Inventing Living: Modern Experiments in Latin American Housing
Luis E. Carranza
114 Avery
M 11 AM - 1 PM
Full Semester
3 Points
10651
ARCH4427‑1 Fall 2025
Architecture Apropos Art
Steven Holl, Dimitra Tsachrelia
412 Avery
TH 11 AM - 1 PM
Full Semester
3 Points
10665
ARCH4441‑1 Fall 2025
Interlaced Existence: Death, Life, Liminality
Karla Rothstein
200 Buell North
TU 11 AM - 1 PM
Full Semester
3 Points
10666
ARCH4442‑1 Fall 2025
If Buildings Had DNA
Christoph Kumpusch
Ware Lounge (600 Avery)
TU 1 PM - 3 PM
Full Semester
3 Points
16429
ARCH4469‑1 Fall 2025
The History of Architecture Theory
Mark Wigley
114 Avery
W 11 AM - 1 PM
Full Semester
3 Points
10652
ARCH4597‑1 Fall 2025
Extreme Design
Mark Wigley
412 Avery
TU 11 AM - 1 PM
Full Semester
3 Points
10653
ARCH4625‑1 Fall 2025
Tensile/Compression Surfaces in Architecture: Tactile Methods for Architects
Robert Marino
409 Avery
TU 2 PM - 4 PM
Full Semester
3 Points
10685
ARCH4715‑1 Fall 2025
Re-Thinking BIM
Joseph Brennan
409 Avery
M 11 AM - 1 PM
Full Semester
3 Points
10673
ARCH4845‑1 Fall 2025
Generative Design I
Danil Nagy
Ware Lounge (600 Avery)
TU 9 AM - 11 AM
Full Semester
3 Points
10681
ARCH4866‑1 Fall 2025
Modernism + The Vernacular
Mary McLeod
409 Avery
TU 11 AM - 1 PM
Full Semester
3 Points
10654
ARCH4874‑1 Fall 2025
Construction Ecologies in the Anthropocene
Tommy Schaperkotter
409 Avery
M 9 AM - 11 AM
Full Semester
3 Points
10699
ARCH4892‑1 Fall 2025
Data Visualization for Architecture, Urbanism and the Humanities
Jia Zhang
409 Avery
F 9 AM - 11 AM
Full Semester
3 Points
10675
ARCH4894‑1 Fall 2025
Spatial UX
Violet Whitney
115 Avery
TH 11 AM - 1 PM
Full Semester
3 Points
10676
ARCH4987‑1 Fall 2025
Architectural Photography: From the Models to the Built World
Michael Vahrenwald
115 Avery
F 11 AM - 1 PM
Full Semester
3 Points
10670
ARCH4988‑1 Fall 2025
Coding for Spatial Practices
Celeste Layne
Ware Lounge (600 Avery)
TU 7 PM - 9 PM
Full Semester
3 Points
10677
ARCH6510‑1 Fall 2025
Neighborhood Preservation and Zoning
Carol Clark
Ware Lounge (600 Avery)
TU 11 AM - 1 PM
Session B
1.5 Points
10742
ARCH6682‑1 Fall 2025
Subject+Object
Suchi Reddy
300 Buell South
F 9 AM - 11 AM
Full Semester
3 Points
10708
ARCH6756‑1 Fall 2025
Make
Ada Tolla, Giuseppe Lignano
Ware Lounge (600 Avery)
F 11 AM - 1 PM
Full Semester
3 Points
10671
ARCH6768‑1 Fall 2025
Conservation of Architectural Metals
Richard Pieper
Preservation Technology Lab (655 Schermerhorn)
M 10 AM - 1 PM
Session A
1.5 Points
10745
ARCH6801‑1 Fall 2025
Structural Daring & The Sublime In Pre-Modern Architecture
Rory O'Neill
412 Avery
W 11 AM - 1 PM
Full Semester
3 Points
10657
ARCH6830‑1 Fall 2025
Difference and Design
Justin Moore

All GSAPP

412 Avery/ Online
TU 4 PM - 6 PM
Full Semester
3 Points
10439
ARCH6917‑1 Fall 2025
Seed Bombs: Technologies in Ecological Design
Emily Bauer
115 Avery
TU 11 AM - 3 PM
Session A
3 Points
10710
ARCH6921‑1 Fall 2025
AI for Existing Buildings
Kivanc Kose
Preservation Technology Lab (655 Schermerhorn)
W 6 PM - 8 PM
Session B
1.5 Points
13583
ARCH6930‑1 Fall 2025
Women, Gender + Modern Architecture
Mary McLeod
408 Avery
TH 11 AM - 1 PM
Full Semester
3 Points
10663
ARCH6934‑1 Fall 2025
Traditional Building Technology
Tim Michiels
Preservation Technology Lab (655 Schermerhorn)
TH 9 AM - 11:30 AM
Full Semester
3 Points
10748
ARCH6938‑1 Fall 2025
Rendering Systems
Seth Thompson
300 Buell North
TU 7 PM - 9 PM
Full Semester
3 Points
10678
ARCH6939‑1 Fall 2025
GIS for Design Practices
Dare Brawley, Mario Giampieri Syllabus
408 Avery
F 11 AM - 1 PM
Full Semester
3 Points
10680
ARCH6941‑1 Fall 2025
Architectural Acoustical Ecology
Ethan Bourdeau
408 Avery
TU 11 AM - 1 PM
Full Semester
3 Points
10705
ARCH6942‑1 Fall 2025
Daylight, Metabolism
Elliot Glassman
200 Buell North
TH 7 PM - 9 PM
Full Semester
3 Points
10706
ARCH6953‑1 Fall 2025
Invis-abilities: Enhancing Accessibility in Design for Mind and Body
Zarina Farmer-George
203 Fayerweather
M 11 AM - 1 PM
Full Semester
3 Points
13590
ARCH6962‑1 Fall 2025
Environment, Built: Episodes from an Elemental History of Architecture
Enrique Ramírez
408 Avery
W 9 AM - 11 AM
Full Semester
3 Points
14757
ARCH6964‑1 Fall 2025
Information Richness: Architecture, Media, Politics
Amelyn Ng
408 Avery
W 11 AM - 1 PM
Full Semester
3 Points
13851
ARCH6967‑1 Fall 2025
Cities of Knowledge: Orientalizing Manhattan
Ziad Jamaleddine
934 Schermerhorn
TU 2:10 PM - 4 PM
Full Semester
3 Points
10662
ARCH6988‑1 Fall 2025
Fortifications and Other Infrastructures of the British Empire
Hannah Kaemmer
409 Avery
F 11 AM - 1 PM
Full Semester
3 Points
18407
ARCH6814‑1 Fall 2025
New Towns After Smart Cities
David Smiley

All GSAPP

412 Avery
TU 1 PM - 3 PM
Full Semester
3 Points
10475
ARCH6840‑1 Fall 2025
Archives of Toxicity
Mark Wasiuta
300 Buell South
TH 11 AM - 1 PM
Full Semester
3 Points
10658
ARCH6861‑1 Fall 2025
Environments of Governance
Felicity Scott
300 Buell South
TU 11 AM - 1 PM
Full Semester
3 Points
10659
ARCH6927‑1 Fall 2025
Architecture, Technology & the Environment
Albena Yaneva

All GSAPP

412 Avery
M 11 AM - 1 PM
Full Semester
3 Points
13599
ARCH6929‑1 Fall 2025
The Reimagining of Lower Manhattan Post-Sandy
Michael Kimmelman

All GSAPP

408 Avery
TU 9 AM - 11 AM
Full Semester
3 Points
10600
PLAN6272‑1 Fall 2025
New York Rising: How Real Estate Shapes a City
Kate Ascher

ALL GSAPP

114 Avery
F 11 AM - 1 PM
Full Semester
3 Points
10438
PLCE4444‑1 Fall 2025
The Future City: Transforming Urban Infrastructure
Kate Ascher, Andrew Smyth

All University

113 Avery
TU 1 PM - 3 PM
Full Semester
3 Points
10890

M.S. RED student Samuel Oketcho at the Fall 2016 ULI Conference in Dallas

The ULI Fall Meeting attracts more than 6,000 attendees annually, bringing together every sector of the real estate industry in one place. Columbia GSAPP’s M.S. RED students attended the Fall 2016 meeting in Dallas in full force, where student Samuel Oketcho was interview by ULI on his takeaways from the conference.